DOUBLEUGAMES Co., Ltd. (KOSDAQ:A192080) signed a definitive purchase agreement to acquire Double Down Interactive, LLC from International Game Technology for approximately $830 million on April 17, 2017. The proceeds from the transaction will be used for general corporate purposes, including debt reduction. The transaction represents 10.5x DoubleDown's full-year 2016 adjusted EBITDA. The transaction is subject to customary closing conditions, including regulatory approvals. The transaction has been approved by the Board of Directors of International Game Technology and DoubleU Games. The transaction is anticipated to be completed in the second quarter of 2017. The Raine Group LLC and Credit Suisse International acted as financial advisors, Benjamin M. Roth, Raaj S. Narayan, Jenny Y. Lin, Nelson O. Fitts, David E. Kahan, Rohit A. Nafday, Eric M. Rosof, John R. Sobolewski, Jodi J. Schwartz and Jonathan H. Choi of Wachtell, Lipton, Rosen & Katz LLP and Cooley LLP acted as legal advisors to International Game Technology. Deutsche Bank acted as financial advisor, Kim & Chang and Morgan, Lewis & Bockius LLP acted as legal advisors to DOUBLEUGAMES Co., Ltd. O’Melveny & Myers LLP acted as legal advisor for The Raine Group.